In a dramatic display of just how uncommitted Democrats and Republicans are to restoring fiscal responsibility to the federal government, members from both parties failed to pass a Balanced Budget Amendment to the U.S. Constitution on Friday. The vote, which was included in legislation that Congress passed just a few months ago when it voted to increase the nation’s debt ceiling beyond $14 trillion, was opposed by a large group of Democrats as well as some Republicans.
“The Democratic and Republican parties reminded America today that they have no problem borrowing from China, spending our tax dollars, and pushing us to over $15 trillion in debt,” said David Collison, national chairman of the Reform Party. “However, they cannot seem to agree to a basic principle: you only spend money that you have.”
Collison took today to remind Congress and the American people that the premise behind the balanced budget amendment is simple: Congress would be prohibited from spending in any fiscal year that exceeded tax receipts for that year. Thus, Congress would be unable to add to the deficit.
Republican opponents said the balanced budget amendment would have likely resulted in higher taxes. Democrats objected to the balanced budget amendment as not easily enforceable.
“It is clear that the American people need some help in Congress to balance the budget,” stressed Collison. “Since the Democrats and Republicans cannot get the job done, it is time for people to build up their local Reform Party committees and send committed reformers to government.”